In their most recent coverage, Dutton Associates rated Kandi Technologies (NASD: KNDI) as a “strong speculative buy” with a price target of $6.72. This report from Dutton follows Kandi’s announcement of their first quarter financial results ended March 31, 2008. The company’s total revenue came out to be $9.5 million, representing a 76.4% year-over-year from the previous year’s first quarter, and a 9.2% quarter-over-quarter increase from the fourth quarter of last year.